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Prodding Resistance Levels In Low Volume, MBS At Highs
Posted to: Micro News
Monday, February 11, 2013 1:36 PM
The previous ceiling of resistance for MBS on the day--103-04--has now given way to 103-05. 10yr yields are currently testing their lows of the day in a similarly underwhelming manner, down to 1.9482 vs 1.9500 resistance. Stocks are flat. Volume is low. Headlines aren't moving the needle. The 'price leader' repriced positively and another one or two aren't out of the question. Overall, however, the emphasis is on slowness and a mostly sideways grind (albeit, on the positive side of sideways). Not reading much, if any technical significance into the breaks.
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